Styrene Prices

Styrene Prices September 2024

The styrene prices in the United States for Q3 2024 reached 1345 USD/MT in September. The prices declined due to limited production from feedstock shortages. Despite temporary support from constrained supply, overall demand from the automotive and electronics sectors weakened. There is cautious optimism for a potential market recovery by the end of the quarter.

The price trend for styrene in China for Q3 2024 settled at 1100 USD/MT in September. The market witnessed significant price drop due to oversupply and reduced demand in key sectors, such as automotive and construction. Logistical challenges and monsoon effects further weakened industrial activity, leading to declining prices.

In Netherlands, the styrene prices for Q3 2024 reached 1150 USD/MT in September. The market witnessed price declines due to fluctuating raw material costs and weak demand. While some stabilization occurred later in the quarter, ongoing economic uncertainties and changing supply dynamics kept the market bearish, reflecting broader trends in Europe.

In Saudi Arabia, the styrene prices for Q3 2024 reached 1160 USD/MT in September. The market witnessed steady price increase due to robust demand from the construction, automotive, and packaging sectors. Stable feedstock costs and moderate supply supported this growth, which persisted despite global economic uncertainties.

Styrene Prices June 2024

The styrene prices in the United States for Q2 2024 reached 1230 USD/MT in June. Prices fell significantly due to oversupply and lower raw material costs. Weak demand in the automotive and packaging sectors has prompted suppliers to reduce prices. Cautious procurement and seasonal drops in industrial activity have further contributed to this bearish market trend.

The price trend for styrene in Japan for Q2 2024 settled at 1150 USD/MT in June. The market witnessed significant price increases driven by higher feedstock costs and strong seasonal demand from the automotive and packaging sectors, along with supply constraints and rising production expenses.

In Germany, the styrene prices for Q2 2024 reached 1275 USD/MT in June. The market mirrored European trends, with prices declining in Q2 2024 due to high inventories, lower raw material costs, and reduced demand from sectors like automotive. Seasonal slowdowns and logistical challenges also contributed to this negative atmosphere.

The price trend for styrene in Saudi Arabia for Q2 2024 settled at 1060 USD/MT in June.  The market witnessed price growth due to strong demand from the packaging and automotive sectors, along with high feedstock and production costs. Seasonal demand surges and supply chain challenges also contributed to a positive market sentiment this quarter.

Styrene Prices March 2024

The styrene prices in the United States for Q1 2024 reached 1740 USD/MT in March. The prices rose steadily due to higher feedstock costs and logistics challenges. Mid-quarter, increased demand from key industries, coupled with supply disruptions and rising freight rates, led to a consistent upward pricing trend.

The price trend for styrene in India for Q1 2024 settled at 1762 USD/MT in March. The market showed a positive pricing trend due to global pressures and regional demand. Rising feedstock prices and transportation challenges increased costs, while growth in packaging and construction industries sustained demand throughout the quarter.

Styrene Prices December 2023

The styrene prices in the Mexico for Q4 2023 reached 1169 USD/MT in December. In Mexico, the styrene market showed a bullish trend despite experiencing price drops toward the end of the year. The market dynamics were shaped by consistent demand and strategic positioning by sellers, who navigated through cautious procurement strategies from buyers amid ample inventories and moderate supply levels.

The price trend for styrene in Japan for Q4 2023, reached 1046 USD/MT in December. Japan's styrene market saw significant price declines due to an oversupply and weak demand from downstream sectors. Despite this, a steady product demand from industries like PS, EPS, and ABS maintained some market activity.  

The price trend for styrene in the Netherlands for Q4 2023, reached 1028 USD/MT in December. The Netherlands observed a decline in styrene prices, driven by excess supply and weaker regional demand. The drop in feedstock prices and production costs further pressured the market. Despite these challenges, downstream sectors remained resilient, helping stabilize the market dynamics amid a softening demand environment.

The price trend for styrene in Saudi Arabia for Q4 2023, reached 957 USD/MT in December. The market experienced a price decline due to reduced demand from Asian markets and perceived overvaluation by buyers. Adequate supply levels and sufficient inventories contributed to a cautious trading atmosphere, with adjustments made in supply chains to maintain market stability and prevent oversupply.

The price trend for styrene in Brazil for Q4 2023, reached 1176 USD/MT in December. In Brazil, the styrene market continued its downward trend, influenced by subdued demand from downstream industries and an oversupply situation. This environment created ample inventories and sluggish market activity. However, despite these challenges, the market managed to remain adaptable amidst changing conditions and pricing dynamics.

Regional Coverage

The report provides a detailed analysis of the styrene market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the styrene price trend.

Global Styrene Price

The report offers a holistic view of the global styrene pricing trends in the form of styrene price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into styrene historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into styrene price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed styrene demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Styrene Price

Q3 2024:

The European styrene market in the third quarter of 2024 faced declining prices, mainly due to unstable raw material prices for ethylene and benzene and weak demand across various end-use industries. Supply levels remained moderate to high, but the demand waned as economic challenges continued to affect industrial sectors, particularly in construction and automotive. The Netherlands witnessed significant price shifts that aligned with the overall region’s market trend. Competitive market dynamics, driven by economic stagnation and rising energy expenses, influenced manufacturers to adopt flexible pricing strategies. Although the market saw slight stabilization in the latter part of the quarter, the prevailing bearish sentiment continued as broader uncertainties and market adjustments played out.

Q2 2024:

In the second quarter of 2024, Europe's styrene market faced a pronounced bearish trend characterized by declining prices. This downward movement was primarily driven by an oversupply situation, with increased production capacity leading to elevated inventory levels. Suppliers, aiming to manage excess stock, reduced prices significantly. Demand from key industries, including construction and automotive, softened due to seasonal slowdowns and broader economic uncertainties, exacerbating the price decline. The market saw an accelerating decline mid-quarter, highlighting the persistent downward pressure. By the end of the quarter, the Styrene market in Europe remained under substantial bearish sentiment, driven by a combination of reduced raw material costs, oversupply, and weakened demand across major sectors.

Q1 2024:

The styrene market in Europe experienced varying trends in the first quarter of 2024. The quarter started with a decrease in prices, mainly due to an oversupply aided by heightened imports, especially from the Netherlands. This surplus compelled seller to reduce their prices, leading to a negative beginning. However, by mid-January, increased demand from the ABS sector and rising production costs propelled prices higher. Geopolitical tensions impacting trade routes, such as disruptions in the Suez Canal, rendered imports less competitive, benefiting domestic manufacturers and putting pressure on local supply chains. In February, rising crude oil prices and logistical challenges further contributed to the climbing prices. By March, the market was characterized by mixed indicators, balancing supply shortages with ongoing demand, ultimately concluding on a positive note.

Q4 2023:

During the fourth quarter of 2023, the styrene market in Europe experienced a drop in price due to decreased demand, an excess in product availability, and falling regional adoption. Lower prices for feedstocks, such as ethylene and benzene, combined with decreased crude oil costs, also led to a downward price trend, which further lead to a diminution in production costs. In the Netherlands, the market faced significant value declines, though downstream sectors showed durable fundamentals.  

This analysis can be extended to include detailed styrene price information for a comprehensive list of countries.

North America Styrene Price

Q3 2024:

In Q3 2024, North America's styrene market experienced an overall declining price trend influenced by multiple factors. While limited production capacities and feedstock shortages, particularly in benzene, created tight inventories, these supply constraints were overshadowed by weakening demand in the automotive and electronics sectors. The seasonal lull in manufacturing activity contributed to the softening of market dynamics. Although supply issues provided some temporary price support, they were not enough to offset the significant impact of lower demand. The market dynamics continued to be optimistic till the quarter's end, with potential signs of stabilization as inventory adjustments and eased supply chain disruptions hinted at future recovery.

Q2 2024:

In Q2 2024, the styrene market in North America encountered a downward price trend influenced by several key factors. Persistent supply surpluses and elevated inventory levels created an environment of oversupply, which was further intensified by declining costs of essential raw materials such as benzene and ethylene. Additionally, demand from major downstream industries like automotive and packaging weakened, reflecting a broader slowdown in these sectors. The United States faced notable challenges with ongoing supply chain adjustments and reduced industrial activities, leading to a consistently bearish market sentiment. High inventory levels and cautious procurement behaviors among buyers exacerbated the downward pressure, resulting in a sustained decline in Styrene prices throughout the quarter. Market participants remained vigilant, anticipating potential shifts as supply-demand dynamics continued to evolve.

Q1 2024:

In Q1 2024, North America's styrene market, especially in the United States, saw an upward price movement shaped by several market dynamics. Initial pricing stability stemmed from balanced supply and modest demand across key sectors like packaging and automotive. However, as the quarter progressed, the rise in feedstock costs such as benzene and ethylene, combined with elevated freight charges due to global shipping issues, drove prices upward. Mid-quarter, logistical bottlenecks, influenced by international trade disruptions, intensified the price hike, compelling buyers to adjust procurement strategies. By March, downstream industries showed heightened activity, exerting additional pressure on prices. The overall quarter reflected a market adapting to supply chain intricacies, fluctuating demand, and production cost challenges.

Q4 2023:

The styrene market in the Q4 2023 maintained a stable stance in North America, influenced by adequate demand and supply conditions. Market activities were shaped by factors, such as constrained market off-take and sluggish global demand, which put pressure on prices. In the United States, the market continued to decline toward the end of the quarter. Meanwhile, in Mexico, the market maintained a bullish tone despite some price reductions, driven by steady to high demand. Sellers remained active in taking strategic short positions, navigating through a period marked by substantial inventories and cautious buying approaches from overseas buyers.

Specific styrene historical data within the United States and Canada can also be provided.

Middle East and Africa Styrene Price

Q3 2024:

The Middle East and Africa region's styrene market in Q3 2024 witnessed a steady price increase mainly driven by sustained demand from automotive, packaging, and construction industries. Saudi Arabia reflected these regional trends, showcasing gradual price growth supported by stable feedstock costs and a well-maintained supply chain. The market benefitted from robust domestic demand and positive business expectations, contributing to a consistent upward pricing trajectory throughout the quarter. While global economic conditions posed challenges, the region managed to maintain resilience. The pricing environment indicated strong fundamentals, with moderate price variations between the first and second halves of the quarter as market participants adapted to evolving global and regional dynamics.

Q2 2024:

The Q2 2024 saw the styrene market in the Middle East and Africa region undergo notable price increases, driven by a combination of strong demand and rising production costs. Key industries such as automotive and packaging, and electronics sustained robust demand, which, along with steady production levels, created upward pressure on prices. The rising costs of essential feedstocks like benzene and ethylene significantly increased production expenses, further pushing Styrene prices higher. Saudi Arabia emerged as a focal point within the region, experiencing the most pronounced price hikes. Seasonal demand spikes in the packaging and automotive sectors, along with stable feedstock availability, supported continuous price growth. The interplay between increasing feedstock costs and strong industrial demand maintained a bullish market sentiment throughout the quarter.

Q1 2024:

Q1 2024 in the Middle East and Africa region observed a gradual rise in styrene prices, particularly driven by the dynamics in Saudi Arabia. Initial price stability was influenced by steady demand from local industries and sufficient inventory levels. However, mid-quarter shifts were notable due to geopolitical unrest, leading to longer shipping routes and increased costs. Feedstock prices for benzene and ethylene climbed, further pushing up production expenses. By the quarter end, downstream sectors such as packaging and automotive displayed strong demand, reinforcing the positive trend. Despite logistical and supply challenges, the market showcased its ability to adapt and maintain growth amid upstream cost increases and geopolitical pressures.

Q4 2023:

In the Middle East and Africa, styrene prices in Q4 2023 demonstrated mixed movements, with a general decline observed from October to December. This is further affected by the decreased demand from APAC markets and oversupply led to price reductions. Moreover, Saudi Arabia, a significant market player, saw a decrease in styrene prices, mainly due to moderate supply and perceived overvaluation of the product. Buyers’ cautious stance and sufficient inventory levels contributed to the market's stability, while supply chain strategies were adjusted to avoid oversupply.  

In addition to region-wise data, information on styrene prices for countries can also be provided.

Asia Pacific Styrene Price

Q3 2024:

During the third quarter of 2024 the Asia Pacific styrene market was marked by a clear price decline due to persistent oversupply and fluctuating import volumes. Production remained high across the region, while the demand from key sectors such as construction and automotive weakened amid ongoing macroeconomic uncertainties. The elevated inventory levels and logistical challenges placed additional pressure on the market. In China, seasonal monsoon impacts further reduced industrial activities, exacerbating the pricing downturn. Despite these hurdles, the latter part of the quarter showed slight stabilization as market participants anticipated improved balance with the completion of pre-National Day restocking activities. The overall market sentiment reflected cautious watchfulness, given the ongoing complexities.

Q2 2024:

In the second quarter of 2024, the Asia Pacific region's styrene market witnessed significant price hikes influenced by several crucial factors. Increased production costs, especially for key feedstocks like ethylene and benzene, played a critical role in this trend. The robust demand from essential sectors, such as construction, automotive, and packaging, further intensified price pressures. Disruptions in the supply chain, including sporadic plant shutdowns and transportation issues, constrained supply, creating a bullish market atmosphere. Japan witnessed the most notable price variations, driven by seasonal demand and industrial expansion.

Q1 2024:

The Q1 2024 Asia Pacific styrene market was marked by notable price volatility, influenced by a range of complex factors. Early on, increased import costs and supply constraints in China, impacted by geopolitical challenges in vital trade routes, caused a price surge. This initial rise saw a brief correction, but by mid-quarter, demand recovery, especially in packaging and automotive, maintained upward pressure. Supply chain issues, including transportation slowdowns and plant maintenance activities, contributed to tighter availability. Feedstock prices for ethylene and benzene continued to climb, exacerbating production costs. Market participants in the region took a cautious approach, adjusting inventory and procurement to manage the unpredictable pricing environment throughout the quarter.

Q4 2023:

In the Asia Pacific, for Q4 2023, styrene a downward trend was observed in the market, primarily driven by an oversupply situation and weak demand. A drop in additional orders across Asian markets led players to reassess their pricing strategies, resulting in price cuts. Japan experienced the most significant price changes due to burgeoning supply levels and subdued demand, especially from industries. Despite these challenges, the market showed bullish tendencies because of robust demand from downstream sectors. The overall price movement was impacted by ongoing declines in upstream crude oil prices and the depreciation of the local currency, which influenced broader market dynamics.

This styrene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Styrene Price

Q3 2024:

During the third quarter of 2024, the styrene market in Latin America exhibited a varied pricing pattern, influenced by changing feedstock costs and differing demand in sectors like construction and automotive. Brazil reflected similar trends seen regionally, with occasional price fluctuations attributed to supply chain disruptions and logistical challenges. Although the market experienced an overall decline at the beginning of the quarter, there were instances of recovery in August due to slight upticks in demand. Ongoing economic uncertainties and regional obstacles continued to affect the market, limiting opportunities for sustained growth. As the quarter ended, market sentiment remained cautious, with supply adjustments and inventory management being crucial for maintaining price stability.

Q1 2024:

The Latin American styrene market in Q1 2024 recorded substantial upward momentum, primarily influenced by external market shifts and internal demand. Brazil, as a major market, began the quarter with relative stability but experienced rising prices mid-quarter due to constrained supply from the Unites States, influenced by logistical and shipping hurdles. The Red Sea crisis added another layer of pressure on shipping routes, leading to increased transportation costs. Elevated feedstock benzene prices contributed to production cost surges. Despite these challenges, consistent demand from downstream industries such as polystyrene and expanded polystyrene supported the price growth. South America’s reliance on imports made it particularly sensitive to global supply chain disruptions, driving prices upward through March.

Q4 2023:

The styrene market in the region experienced a downtrend this quarter, marked by falling prices and weakening demand. The oversupply of styrene, coupled with reduced interest from sectors, such as expanded polystyrene (EPS) and polystyrene (PS), led to substantial stockpiling. Brazil's market faced similar challenges, reasonable supply-demand dynamics, and slow-moving fundamentals.  Despite these conditions, the market displayed resilience, adapting to shifts in freight costs and crude oil prices.  

This comprehensive review can be extended to include specific countries within the region.

Styrene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Styrene Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of styrene pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of styrene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of styrene price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing styrene price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Styrene Market Analysis

The global styrene market size reached US$ 7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 12.3 Billion, at a projected CAGR of 6.40% during 2023-2032.

• The extensive use of styrene-based products in various end use industries including construction, packaging, electronics, and automotive represents one of the key factors influencing the growth of the market across the globe. Styrene is used in several household items such as rubber, plastic, food containers, accessories of smaller appliances, and many more. According to Statista, the global production of plastics reached a staggering 400.3 million metric tons in 2022. This marks an increase of about 1.6% from the previous year. Plastics production has soared since the 1950s which is likely to fuel the demand for styrene over the coming years.
• Packaging is the single largest usage in which styrene-containing resins, specifically foams, are employed as cushioning and fillers. The increasing demand for styrene in producing polysterene is driving the market growth. Polysterene is widely employed for packaging food, pharmaceutical, and electronics products owing to it protective and lightweight properties which is further fueling the demand for styrene. For instance, in August 2023, Amcor, a worldwide leader in producing and developing responsible packaging solutions announced that it has registered into an agreement to acquire Phoenix Flexibles, expanding Amcor’s capacity in the high growth Indian market.
• Styrene-based products like polystyrene foam are utilized for insulation in roofs, walls, and floors which is contributing to energy efficiency in buildings, thus boosting the growth of the market. According to the Construction Association, construction is a major contributor to the economy in the United States. There were more than 9,19,000 construction formations in the United States in the first quarter of 2023. The industry employees 8.0 million employees and create nearly dollar 2.1 trillion worth structures each year. Construction is one of the largest consumers for manufacturing mining and a variety of services.
• The growing automotive industry, along with the rising demand for styrene in manufacturing components such as car tyres, drive couplings, automotive parts, and mechanical rubber goods through styrene-butadiene rubber (SBR) is facilitating the growth of the market. For instance, in September 2023, Bridgestone, a worldwide leader in tyres and solutions, announced its first tyre manufacturing site to be verified as carbon neutral. The plant at Chakan in Pune, India was audited in May and June 2023 and was subsequently verified according to the international TAS 2060 standards for the year 2022 by leading global assurance partner, LRQA.

Styrene News

The report covers the latest developments, updates, and trends impacting the global styrene market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in styrene production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the styrene price trend.

Latest developments in the styrene industry:

• In November 2022, Chevron Philips Chemical Company LLC and Qatar Energy announced that they are proceeding with the construction of an $ 8.5 billion integrated polymers facility in orange TX likely to create more than 500 full time jobs and approximately 4500 construction jobs in generate an estimated $50 billion for the community in residual economic impacts.
• In April 2024, Ineos completed the acquisition of Naphtachimie, Gexaro and Appryl, which were a 50: 50 Joint Venture between Ineos and TotalEnergies in Southern France at Lavera.

Product Description

Styrene refers to an oily, colorless liquid that possesses a sweet smell which is an organic compound. The chemical formula for styrene is C8H8. It is a derivative of benzene and is an essential monomer in the production of polystyrene, a popular plastic material.

Styrene is extensively employed in the manufacturing of different products such as fiberglass, insulation, disposable cup, plastic packaging human goods due to the properties of styrene.

It is produced industrially from ethylene and benzene, and it polymerizes easily. It offers several advantages in manufacturing, but also needs to be handled with care due to health and safety concerns. Apart from these concerns, styrene's versatility, and key role in producing lightweight, durable, and cost-effective materials make it indispensable in modern manufacturing and consumer products.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of styrene pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting styrene price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The styrene price charts ensure our clients remain at the forefront of the industry.